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Global governance consists of a multitude of international institutions. Although these institutions regulate only individual areas of transnational governance like trade, security, climate change, and financial assistance, they do not operate in isolation from each other, but overlap in their competences. With regard to international financial assistance, for example, the competences of the International Monetary Fund, the World Bank, and regional development banks overlap. In the realm of international security, NATO overlaps with the Common Security and Defense Policy of the European Union. The trade-environment-nexus features overlap between the WTO and several environmental institutions, such as the United Nations Framework Convention on Climate Change (UNFCCC), the Ozone Protection Regime, and the Biodiversity Regime. Continue reading →